Hi Line Capital Management LLC Takes $4.77 Million Position in Eagle Materials Inc (NYSE:EXP)

Hi Line Capital Management LLC bought a new position in Eagle Materials Inc (NYSE:EXP - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 21,470 shares of the construction company's stock, valued at approximately $4,770,000. Eagle Materials accounts for approximately 1.8% of Hi Line Capital Management LLC's holdings, making the stock its 22nd biggest position. Hi Line Capital Management LLC owned approximately 0.06% of Eagle Materials at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sheets Smith Wealth Management boosted its holdings in shares of Eagle Materials by 4.4% during the first quarter. Sheets Smith Wealth Management now owns 2,696 shares of the construction company's stock worth $598,000 after purchasing an additional 113 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Eagle Materials by 12.4% during the first quarter. Oppenheimer & Co. Inc. now owns 5,402 shares of the construction company's stock worth $1,199,000 after purchasing an additional 595 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Eagle Materials by 14.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 16,443 shares of the construction company's stock worth $3,649,000 after purchasing an additional 2,045 shares during the period. Ausbil Investment Management Ltd boosted its holdings in shares of Eagle Materials by 469.7% during the first quarter. Ausbil Investment Management Ltd now owns 2,951 shares of the construction company's stock worth $655,000 after purchasing an additional 2,433 shares during the period. Finally, Covea Finance boosted its holdings in shares of Eagle Materials by 16.7% during the first quarter. Covea Finance now owns 14,000 shares of the construction company's stock worth $3,107,000 after purchasing an additional 2,000 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EXP has been the subject of several research reports. DA Davidson decreased their price target on shares of Eagle Materials from $260.00 to $245.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Truist Financial reduced their target price on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. reduced their target price on shares of Eagle Materials from $310.00 to $250.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Loop Capital reduced their target price on shares of Eagle Materials from $245.00 to $237.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. Finally, Stifel Nicolaus set a $241.00 target price on shares of Eagle Materials and gave the company a "hold" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $254.44.

Eagle Materials Stock Performance

Shares of NYSE:EXP traded up $1.39 during trading on Friday, reaching $204.38. The stock had a trading volume of 1,027,988 shares, compared to its average volume of 351,821. Eagle Materials Inc has a 52 week low of $191.91 and a 52 week high of $321.93. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 14.85 and a beta of 1.28. The company has a quick ratio of 1.03, a current ratio of 2.73 and a debt-to-equity ratio of 0.84. The stock has a fifty day simple moving average of $213.93 and a two-hundred day simple moving average of $229.69.

Eagle Materials (NYSE:EXP - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The construction company reported $2.08 EPS for the quarter, missing analysts' consensus estimates of $2.34 by ($0.26). Eagle Materials had a net margin of 20.50% and a return on equity of 32.71%. The firm had revenue of $470.18 million during the quarter, compared to the consensus estimate of $483.14 million. During the same period in the prior year, the business earned $2.24 EPS. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts anticipate that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Monday, June 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, June 16th. Eagle Materials's dividend payout ratio is 7.27%.

Eagle Materials Company Profile

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.